It is a good idea to set up a direct debit from your bank account to pay your bill in full or a percentage of the amount due.

It is good news for the cost-conscious consumers as there is no cost for using the service, compared with direct debits, bank transfers or mailing payments.

The new bank account switching code that comes into effect this week is supposed to make it easier for current account holders to close their existing accounts and transfer all direct debits and standing orders to a new bank.